Saudis' Newcastle bid ends after piracy, human rights issues
- Country:
- United Kingdom
Saudi Arabia's sovereign wealth fund withdrew its bid to buy English Premier League club Newcastle on Thursday after the process was stalled by concerns about piracy by the kingdom and human rights complaints
The league has spent four months considering whether to approve the 300 million pound ($392 million) takeover that would have seen Saudi Arabia's Public Investment Fund gain an 80% take in the northeast club
The British-based Reuben brothers and financier Amanda Staveley were planning to each buy the remaining 10% stakes to end the ownership of retail entrepreneur Mike Ashley.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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